Feb. 6 (Bloomberg) -- Eurasian Natural Resources Corp., a
Kazakh metals producer, rose the most in more than four months
in London trading after reporting higher-than-estimated fourth-quarter ferroalloy output and increased iron ore volumes.

ENRC advanced 9.1 percent to 375.60 pence by the close, the
biggest gain since Sept. 14 and the highest level since Aug. 16.
Production of saleable ferroalloys, used in steelmaking,
increased 8.9 percent to 392,000 metric tons, ENRC said today in
a statement. Iron-ore extraction rose 4.4 percent to 11 million
tons.

ENRC “achieved significant production increase on 2011
full-year level,” Chief Executive Officer Felix Vulis said in
the statement. “We anticipate delivering a strong operational
performance across the group in 2013.”

The ferroalloy output beat estimates by 3 percent, Liberum
Capital Ltd. said in a note. “Overall, the divisions that are
currently the main earnings contributors all came in in line and
we would expect small upgrades to 2012 consensus.”

ENRC, which produces ferroalloys, iron ore, aluminum and
power in Kazakhstan, owns copper and cobalt assets in Zambia and
the Democratic Republic of Congo, where it acquired First
Quantum Minerals Ltd.’s stakes in three mines last year for
$1.25 billion.

ENRC mined 1.17 million tons of bauxite, a raw material for
alumina used to produce aluminum, down 18 percent from last
year. Aluminum production declined 1.6 percent percent to 62,000
tons in the quarter, while it was unchanged at 249,000 tons for
the year.

Fourth-quarter output of saleable copper fell 4 percent to
7,756 tons because of power supply disruptions, ENRC said. It
produced 35,216 tons of copper in 2012, up 19 percent from 2011.

ENRC, which in April bought the 75 percent of Kazakh coal
producer Shubarkol Komir JSC it doesn’t own for $650 million,
produced 53,000 tons of special coke, it said.